CLNR, the natural resources investing company with gas assets in the Southern North Sea, is pleased to provide an operational update on its 100% owned asset P2248, located in the Southern North Sea.

Highlights

· Further analysis of seismic data has further de-risked the Bunter Sandstone Prospects potentially unlocking a new regional Bunter Sandstone play with significant resource potential at low cost

· Key risk of the Cadence Prospect has been further addressed with revised fault interpretation resulting in a significantly more robust structure with two potentially independent, lower risk compartments within the larger Cadence prospect now clearly identified

· Farm-out process for P2248 on-going with encouraging level of traffic through the dataroom with targeted closing of the dataroom during the summer

Commenting CNR's Chairman and Chief Executive Algy Cluff said:

"The on-going technical work continues to enhance the prospects identified by the Company and directly feeds into the on-going farm-out process. The interest in the dataroom to date has been very encouraging, especially in the context of other regional activities which include a deep Carboniferous exploration well currently being drilled by BP to the south of our licences, the results of which we, and the industry as a whole, are eagerly anticipating. These regional activities could have a significant positive impact on the farm-out process and we continue to monitor their progress carefully."

When Algy moves, i think his a/rse squeaks...c'mon Algy, let's get squeaking?

Any news is good news.....? Even old news...for lack of any at all?

https://www.youtube.com/watch?v=cNOICr6A1BQ

Published on Mar 24, 2016
Algy Cluff, chairman at Cluff Natural Resources PLC (LON:CLNR) discusses the proposed acquisition of stakes of up to 25% in three North Sea exploration projects with Proactive Investors.
Drilling at the assets should start in 2017, he says, adding that there is outstanding value" in the North Sea.

First gas at southern North Sea satellite brings UK energy security for next 20 years
Written by Alan Shields - 08/08/2017 7:01 am

First gas has been achieved at a new extension of the largest single producing gas field in the UK North Sea, securing a chunk of the countrys future energy supply.

Cygnus operator Engie Exploration and Production (E&P) announced first gas from the Bravo satellite last night.

The production from the outlying unmanned wellhead platform in the Southern North Seas Cygnus development, is now supplementing overall area production of 250million cubic feet per day of gas.

This accounts for 5% of overall UK gas production; sufficient to heat the equivalent of 1.5million homes.
RELATED ARTICLES
SNS 2017: Centrica casts off bureaucracy in hunt for small pools payout
Engie warns of more than 70 job losses in UK
Centrica posts profit in 2016, lays off 3,400 staff

The announcement comes just days after British Gas has announced it is to hike its electricity tariffs by 12.5% in September in a move affecting 3.1 million customers.

The Big Six energy giant confirmed the price rise, which will take effect on September 15.

Centrica-owned British Gas, who has a 48.75% stake in the £1.3billion Cygnus development, said the price rise is its first since November 2013 and the group pledged to help protect more than 200,000 vulnerable customers from the increase.

The gas field represents a significant boost to the UKs long term gas needs with an estimated 2P (proved and probable) reserves of 110 mmboe (million barrels of oil equivalent) and an anticipated production life of more than 20 years.

The main Alpha development has been producing a plateau output 250 million cubic feet per day since December 2016, to which Bravo will now supplement.

Maria Moraeus Hanssen, chief executive of Engie E&P said: This is a major milestone for the Cygnus development.

It is a very successful achievement; well controlled and safely delivered.

Gas from this second drill centre will contribute significantly to extending the plateau production that Cygnus Alpha has been achieving for the last eight months.

Oil and Gas UK Chief Executive Deirdre Michie also welcomed the development last night.

She said: This is an encouraging boost to the UKs energy supply and economy, and testament to the hard work of all involved. It is a further example of how much potential the UKCS and particularly of course the southern North Sea, still has to offer investors, especially with the support of a robust and skilled supply chain.

First gas from Bravo was exported last week 7km south east to the Cygnus Alpha.

Combined output then travelled from the Alpha processing unit via a 55km link to the Esmond Transmission System  which ultimately lands at the Bacton gas terminal in Norfolk.

Engies flagship North Sea gas field, Cygnus is thought to be the largest gas find in the southern North Sea for 25 years.

The overall Cygnus complex comprises four platforms and two subsea structures, serving an estimated field size of 250 square kilometres.

First gas at southern North Sea satellite brings UK energy security for next 20 years
Written by Alan Shields - 08/08/2017 7:01 am

First gas has been achieved at a new extension of the largest single producing gas field in the UK North Sea, securing a chunk of the countrys future energy supply.

Cygnus operator Engie Exploration and Production (E&P) announced first gas from the Bravo satellite last night.

The production from the outlying unmanned wellhead platform in the Southern North Seas Cygnus development, is now supplementing overall area production of 250million cubic feet per day of gas.

This accounts for 5% of overall UK gas production; sufficient to heat the equivalent of 1.5million homes.
RELATED ARTICLES
SNS 2017: Centrica casts off bureaucracy in hunt for small pools payout
Engie warns of more than 70 job losses in UK
Centrica posts profit in 2016, lays off 3,400 staff

The announcement comes just days after British Gas has announced it is to hike its electricity tariffs by 12.5% in September in a move affecting 3.1 million customers.

The Big Six energy giant confirmed the price rise, which will take effect on September 15.

Centrica-owned British Gas, who has a 48.75% stake in the £1.3billion Cygnus development, said the price rise is its first since November 2013 and the group pledged to help protect more than 200,000 vulnerable customers from the increase.

The gas field represents a significant boost to the UKs long term gas needs with an estimated 2P (proved and probable) reserves of 110 mmboe (million barrels of oil equivalent) and an anticipated production life of more than 20 years.

The main Alpha development has been producing a plateau output 250 million cubic feet per day since December 2016, to which Bravo will now supplement.

Maria Moraeus Hanssen, chief executive of Engie E&P said: This is a major milestone for the Cygnus development.

It is a very successful achievement; well controlled and safely delivered.

Gas from this second drill centre will contribute significantly to extending the plateau production that Cygnus Alpha has been achieving for the last eight months.

Oil and Gas UK Chief Executive Deirdre Michie also welcomed the development last night.

She said: This is an encouraging boost to the UKs energy supply and economy, and testament to the hard work of all involved. It is a further example of how much potential the UKCS and particularly of course the southern North Sea, still has to offer investors, especially with the support of a robust and skilled supply chain.

First gas from Bravo was exported last week 7km south east to the Cygnus Alpha.

Combined output then travelled from the Alpha processing unit via a 55km link to the Esmond Transmission System  which ultimately lands at the Bacton gas terminal in Norfolk.

Engies flagship North Sea gas field, Cygnus is thought to be the largest gas find in the southern North Sea for 25 years.

The overall Cygnus complex comprises four platforms and two subsea structures, serving an estimated field size of 250 square kilometres.

Algy Cluff, one of the pioneers of the original oil discoveries in the North Sea a generation ago, received an OBE last weekend in the Queens Birthday honours list for his contributions to business, of course, but also to his substantial but unsung charity work.

Then, yesterday, he received a further present in the shape of a brokers report singing the praises of his venture, AIM-listed Cluff Natural Resources, which is at present trading at around 2.5p having been as high as 5.8p and as low as 1.07p in the past 12 months.

Remarkably, however, the broker Allenby Capital reckons that the shares could be worth 12.5p, five times as much as they are now, albeit the caveats which surround any mining and exploration venture.

I've also been buying over the last few weeks and topped up again today at a buying price of 2.27p--SP standing at a nine month low. The prospects haven't changed, Algy is still in the driving seat and has considerable skin in the game with circa 4 million shares of his own; it's more a case, as you suggest, of capitulation, as PIs with a short term outlook lose patience and sell out. This is more a company where shares should be bought and tucked away for a few years (as the CLNR website clearly points out). That is not to say that there will be no early jump in value if the nearby BP drilling comes up with positive results and/or if a farm in partner is identified when the data room closes in the next few weeks.

Still no other voices on this desert island and no sign of new footprints in the sand.

CLNR clearly has a legion of fans, however, and business has been brisk both yesterday and today. A few largish buys by those who want to be a part of this or to make themselves a quick few pounds. Unfortunately, the move up--reflecting positive news flow, as you pointed out--scuppered my plan to top up again yesterday. I shall wait for a little while now and let the traders take their profits in the hope of a return to circa 2.5p. Today's price will probably seem cheap, of course, if all goes according to plan.

Good to see that there is someone else interested in CLNR and prepared to post on this board, which has just clocked up nearly six months since my contribution back in January. It's been a bit like living on a desert island. Now, at last, there are other footsteps in the sand and another voice.

Some of the buys recently have been mine. Two tranches yesterday at the end of the afternoon, for example. I am likely to generate some additional funds from my portfolio and bag a few more, which at this price seems to be a real bargain.

While it's good to see the bottoms being demarcated and appearing as a twosome (a third is still in the making), don't expect much of a bounce on this evidence alone. Go back a few years in the charts and you will see that there was a whole series of tops and bottoms in the range upper four pence to mid threes from the end of 2013 almost to 2016. So a real break out is not yet a given, though here we are in the bargain basement feeling that this is discount time for all who believe that Algy Cluff's new company will deliver.

You do not mention the operational updates, most recently Prospect 2248, among your reasons for investing but I assume you have studied these and know there is plenty in the reports to give cheer to those already on board and motivate others who are considering a buy. A busy data room means that there are potential partners out there who are sizing up for themselves the likely worth of a joint venture. News of a farm in will prove the real catalyst and probably double straight off the value of shares bought at today's price.

Have taken a position this morning @ 2.60p, after seeing a few buys with no sells ( strange lately ) and MM up on the bid.
The main reason was, the share price has been holding at this lows for a few days ( up and down during the day )
A Double bottom on the chart, and there is a target of 10p by brokers

I'm not sure whether there are investors who visit this board, given the absence of posts. if there are, I hope they've seen the recent RNS, from which I have winkled out the following:

"As a result of this work, the Company increased its total combined P50 Prospective Resources from 845 BCF of gas to 2.37 TCF (approximately 410 million barrels of oil equivalent)."

That increase in prospective resources augurs well for the future. Now that the rights issue is out of the way, I expect to see the SP climbing back to its pre-rights point. (SP already up 1p, or 40%). A successful farm in would be likely to send the SP into double figures. Still cheap at present, in my view, though I would have liked one or two further top ups in the upper 2p range.

" CLUFF NATURAL and SCOTGOLD (LSE:CLNR & LSE:SGZ) feature next and both shares exhibit quite different potentials. Cluff needs to close a session above just 5.154 mid-price (currently) to allow us to exhibit optimism for coming growth toward an ..."

" FTSE for the week, the AIM, and a story about a potato. We'll get the potato story out of the way first. Regular readers will recall we planted a crop of tatties in an effort to illustrate what happens if you exercise patience. We've finally ..."

Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.

The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.

The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.

Popular Pages

Registered Office: Standon House, 21 Mansell Street, London E1 8AA, telephone 0345 200 3637. Registered in England with Company Registration number 3699618.
Group VAT registration number 832 6732 26.
We may record and/or monitor telephone calls or intercept other telecommunications between us. This is to protect both of us and for training purposes. Calls to this number cost no more than calls to 01 and 02 numbers.